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#LTCBTC - Chart Update: Top-Heavy Negative Divergence Looms ...

BTCE:LTCBTC   Litecoin / Bitcoin
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#LTCBTC - Chart Update: Top-Heavy Negative Divergence Looms ...

#BTCUSD Favored - Although this relative strength expression of #LTC vs. #BTC has remains tightly wound to a rising momental line, multiple negative divergences have formed at this point, threatening to pressure the dueling pair downward, in favor of #BTCUSD.

Looking at the recent #bitcoin charts I posted recently, this provides additional credence to the bullish outlook which continues to qualify recent $BTCUSD charts.

Cheers,

David Alcindor | 4xQuad.com
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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what signals are you looking for to indicate a reversal as per your LTC/BTC chart, and do you think momentum on this negative divergence is great enough to break the ~.027 trendline? Volume seems to be picking up.
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4xForecaster PRO BuyOnPurple
@liermam - Thank you for your query. I thought that the analysis I did yesterday was saved, but somehow, it fell out of my TradingView archives. In the interim, price has sought support at a level where unwinding to the upside might occur. I just posted a new chart and made sure that it would be saved this time - Let me know if you have problem finding it - David Alcindor, MOD

In this particular case,
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Wheres the bottom!?
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Sorry - Missed your query. Just posted an updated chart on this one. Went done. New bearish targets just defined as well - Hope it answers your question. David Alcindor
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And so it begins...
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@emanance - Indeed, since the directional signal was provided, the bearish conditions have held their grounds, and a very narrow, albeit downward bending path as been defined in price's evolution.

Overhead resistance (red dashed line) remains an important "physical" reference, but the floor remains open for further decline as indicated before.

David Alcindor
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Emanance 4xForecaster
LTC's trade history with BTC shows it's all too familiar with a pretty big trading range
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